Firm age, business cycles and aggregate labor market dynamics

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Sedláček, P.;
  • Publisher: Universiteit van Amsterdam

Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well e... View more
  • References (25)
    25 references, page 1 of 3

    3See for instance Haltiwanger, Jarmin, and Miranda (2010), Neumark, Wall, and Zhang (2006), Ibsen and Westergaard-Nielsen (2011), Halabisky (2006), Ayyagari, Demirguc-Kunt, and Maksimovic (2011). 4Many labor market models abstracting from capital also use constant returns to scale production technologies. See for example Moscarini and Postel-Vinay (2010b) or the classic Mortensen and Pissarides (1994) paper and many others that build on it.

    5As for example in Acemoglu and Hawkins (2010), Bloom (2009) Kaas and Kircher (2011), Merz and Yashiv (2007).

    Hagedorn, M., and I. Manovskii (2008): \The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited," American Economic Review, 98(4), 1692{1706.

    Halabisky, D. (2006): \The Growth Process in Firms: Job Creation by Firm Age," Industry Canada.

    Hall, R. (1995): \Lost Jobs," Brooking Papers on Economic Activity, 1, 221{256.

    Haltiwanger, J., R. Jarmin, and J. Miranda (2000): \Business Formation Dynamics by Business Age: Results from the New Business Demography Statistics," mimeo. (2010): \Who Creates Jobs? Small vs. Large vs. Young," NBER working paper, no. 16300.

    Helfand, J., A. Sadeghi, and D. Talan (2007): \Employment Dynamics: Small and Large Firms over the Business Cycle," Monthly Labor Review, BLS.

    Hopenhayn, H., and R. Rogerson (1993): \Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, 101(5), 915{938.

    Hornstein, A., P. Krusell, and G. Violante (2005): \Unemployment and Vacancy Fluctuations in the Matching Model: Inspecting the Mechanism," Federal Reserve Bank of Richmond Economic Quarterly, 91, 19{51.

    Ibsen, R., and N. Westergaard-Nielsen (2011): \Job Creation by Firms in Denmark," IZA discussion paper no. 5458.

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